NAB to Close Private Equity Arm

By

Caroline Henshaw

May 28, 2012 5:23 pm EDT

National Australia Bank is winding down its private equity arm, marking the death knell for Australia’s big four banks’ foray into the sector.

Integrated Capital Solutions will be closed after NAB suffered a 25 million Australian dollar (US$24.6 million) writedown from an investment in Queensland electronics retailer WOW Sight and Sound, which went into receivership earlier this year, a person familiar with the matter said.

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